GBP/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Current target is 215.23 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 214.998 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Concealing Baby Swallow’ candlestick pattern is detected. The candles show ‘Concealing Baby Swallow’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Concealing Baby Swallow’ going down is 75% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 215.518 |
| 2nd High | 215.23 |
| Next High | 214.998 |
| Current Price | 214.98400 |
| Next Low | 214.302 |
| 2nd Low | 213.863 |
| 3rd Low | 213.49 |
214.998 – 214.934 – 215.23 – 214.302 – 213.863 – 214.324 —
215.31200 – 215.27700 —
62.785849226531 – 52.51631513851 —
– —
214.998 – 1781247600
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Concealing Baby Swallow – – – – – – – – –